Beijing’s cyberspace watchdog said this week that, starting Feb. 15, Chinese platform companies holding the personal data of more than one million users will go through a cyber security review before listing shares overseas. The move comes amid a wave of regulatory changes to tighten the regime’s grip over big tech companies in China. According to a statement on Jan. 4 released by the Cyberspace Administration of China (CAC), the implemented regulation is to “safeguard network data and ensure national security.” “There is a risk that critical information infrastructure, important data, or a large volume of personal information could be impacted, controlled, or maliciously used by foreign governments following a company’s listing overseas,” the new regulations stated, reiterating a concern exposed last July when the cyber security rules were first proposed. Based on the rules, it was unclear which types of companies would be affected, reported Reuters, citing Alex Roberts, an expert in tracking China’s …
China to Impose New Rules on Big Platforms Listing Overseas
January 7, 2022
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